5 Semiconductor Stocks to Buy Today According to Israel Englander’s Millennium Management

2. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Millennium Management’s Stake Value: $251 million

Percentage of Millennium Management’s 13F Portfolio: 0.12%

Number of Hedge Fund Holders: 70

Advanced Micro Devices, Inc. (NASDAQ:AMD) is an American semiconductor designer which targets the personal computing and enterprise computing markets through its products. Additionally, the company also sells custom processors. Its products include central processing units (CPUs), graphics processing units (GPUs), and systems on chips (SoCs).

Advanced Micro Devices, Inc. (NASDAQ:AMD) posted $4.83 billion in revenue and $0.92 in non-GAAP EPS for its fiscal fourth quarter, showing strong growth and beating analyst estimates. Research firm Bernstein upgraded the company’s price target to $150 in February 2022, outlining that Advanced Micro Devices, Inc. (NASDAQ:AMD) has performed remarkably well over the years.

Millennium Management owned 1.7 million Advanced Micro Devices, Inc. (NASDAQ:AMD) shares during Q4 2021, for a $251 million stake that represented 0.12% of its portfolio. During the same time period, 70 out of the 924 hedge funds polled by Insider Monkey had also held a stake in the company.

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 19.9 million shares worth $2.8 billion.

Carillon Tower Advisers mentioned Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q4 2021 investor letter and stated that:

“Advanced Micro Devices (AMD) supplies semiconductor chips for central processing units (CPUs) and graphic processing units (GPUs). The firm has been gaining share against its primary competitor in the datacenter server CPU space, as this rival has been unable to match the design and manufacturing capabilities of AMD and its partners. Investors are also looking forward to the closing of the previously announced merger with a semiconductor manufacturer that is another one of the portfolio’s holdings. The merger will increase AMD’s capabilities in the Field Programmable Gate Array (FPGA) chip space, and the combined company should possess the potential to win additional market share in the datacenter chip market.”